Anuj Puri, Chairman – ANAROCK Group

The Union Budget focused on economic expansion, infrastructure development, MSMEs, futuristic cities, and middle-class welfare and brings substantial relief for the middle class. It also aims to stimulate rural consumption – an essential step toward unlocking India’s economic potential.

From a real estate perspective, the budget delivers both direct and indirect benefits, acting as a catalyst for growth. However, a notable shortfall was the absence of major announcements for the affordable housing sector, leaving stakeholders disappointed.

Despite this, the budget overall remains strong and growth-oriented, with a clear focus on economic development and enhanced consumption. Key takeaways for the real estate sector include:

Key Announcements Impacting Real Estate

• Income Tax Relief for the Middle Class – The Finance Minister announced zero income tax for individuals earning up to INR 12 lakh annually, providing a major consumption boost. This move is also expected to strengthen demand for affordable housing. Additionally, the new income tax bill will retain nearly 50% of existing provisions while introducing personal tax reforms and rationalizing TDS and TCS regimes by streamlining rates and thresholds.
• Tax Benefits for Residential Property Investors – Investors can now claim Nil valuation for two self-occupied properties, instead of just one – a positive move for residential real estate investment. The simplified TDS on rent decreases the compliance burden and enhances liquidity for landlords and will positively impact the rental housing market, especially in metro cities. Previously, homeowners could claim only one self-occupied property as tax-free; now, they can claim two – thereby removing taxation on notional rental income from a second home. This step minimizes tax pressures, promotes homeownership, and facilitates real estate investment, especially in second homes and Tier 2 and 3 cities. Middle-class homebuyers, landlords, and investors can now benefit from reduced tax liabilities, better affordability, and less compliance hassles. By simplifying financial constraints and tax rules, the budget has made property ownership and rental housing more accessible. This gives a significant fillip to the real estate sector, specifically to and housing demand.
• INR 1 Lakh Crore Urban Challenge Fund for New-Age Cities – The establishment of this massive urban development fund will enhance infrastructure, unlock real estate potential, and transform cities into major growth hubs.
• SWAMIH Fund Allocation of INR 15,000 Crore – This initiative will facilitate the completion of over 1 lakh stalled residential units, providing much-needed relief to homebuyers, especially in the National Capital Region (NCR).
• Revamped UDAAN Scheme to Improve Connectivity – The restructured UDAAN scheme aims to connect 120 new destinations and serve over 4 crore passengers in the next decade. Greenfield airports in Bihar and other regions will be developed to support this expansion. This enhanced connectivity is expected to boost real estate demand in Tier-II and Tier-III cities.
• PM Gati Shakti Data Access for Private Sector & Tourism & Warehousing Infrastructure Boost – The government will open PM Gati Shakti data to private players, while 50 top tourist destinations will be developed in collaboration with state governments. Additionally, hotels will be included in the harmonized scheme for tourism infrastructure, leading to enhanced real estate opportunities in major tourist hubs. This will also benefit the warehousing sector across the country.
• Support for Global Capability Centres (GCCs) – A national guidance framework will be introduced to help states attract and promote GCCs, strengthening India’s position as a global business hub. Given India’s rising economic influence, this move is expected to fuel office space demand in major metros like Bengaluru, Mumbai, Hyderabad, Pune, and Chennai, as well as Tier-II and Tier-III cities.
• INR 1.5 Lakh Crore Fiscal Support for MSMEs – The allocation of INR 1.5 lakh crore to MSMEs is expected to spur capacity expansion, creating a ripple effect that will positively impact industrial real estate.

Nirav Choksi, CEO and Co-Founder of CredAble

“The Economic Survey has pegged India’s FY26 GDP growth between 6.3% and 6.8%. The route to higher productivity lies in creating a win-win economic fabric for all sectors, especially the MSMEs. We’re seeing a positive shift in India’s financial services ecosystem with bank credit to MSMEs surpassing enterprises with 13% growth. RBI’s ULI is bringing about sweeping changes in the MSME credit ecosystem. With its open architecture and plug-and-play model, ULI is improving the discoverability and deliverability of credit to underserved MSMEs.

FinTechs are also playing their part in democratising financial services by accelerating the deployment of technology-enabled financial inclusion and pay-as-you-use financing solutions. While FinTechs are redefining MSME lending with innovative underwriting approaches, products like ULI can extend their reach and cover more lending use cases and categories to remove structural barriers and improve access to working capital financing for MSMEs.”

Shrinivas Rao, FRICS, CEO Vestian

“The Economic Survey 2025 reaffirms the vision of Viksit Bharat 2047, recognizing that this goal cannot be achieved without the contribution of the real estate sector—the second-largest employment generator in the country. The survey highlights the sector’s strong performance in 2024, driven by economic stability and positive market sentiment. Vestian Research data reinforces this trend, with 2024 recording the highest-ever office absorption at 70.7 million sq. ft.

Vimal Nadar, Senior Director & Head, Research at Colliers India

“The economic survey has highlighted the robustness of the Indian economy driven by calibrated fiscal consolidation and stable private consumption. With upsides in the form of domestic investment & manufacturing output growth, the government expects FY26 GDP growth rate to be in the range of 6.3-6.8%. Real estate will continue to play a pivotal role and demand across asset classes is likely to expand into multiple Tier II & III cities and economic corridors as well. All-time high credit deployment with over INR 28 trillion outstanding housing loans as of October 2024, indicates healthy residential activity. Overall, the economic survey has outlined the need for continued infrastructure push, policy reforms and sector specific business enablers in the upcoming budget, which should help in sustaining the real estate growth momentum over the next few years.”

Sahil Agarwal, CEO, Nimbus Group

The Economic Survey underscores the crucial role of the real estate sector in economic growth and projects sustained demand for both housing and office spaces over the long term. Given its significant contribution to GDP and employment, real estate remains one of the key pillars of India’s economic expansion.

The sector has witnessed renewed confidence following the implementation of RERA (Real Estate Regulatory Authority), which has instilled greater transparency and accountability. As a result, both end-users and investors are now more willing to invest in projects developed by RERA-compliant builders, leading to a healthier and more robust market. Over time, we expect transparency and governance in the sector to improve even further, making it even more attractive for investment.

The Economic Survey rightly predicts that housing demand in India will reach 93 million units by 2036, a figure that underscores the enormous growth potential of the sector. Beyond just real estate, this surge in demand will also benefit auxiliary industries, such as construction materials, home décor, finance, and technology, creating a ripple effect across the economy.

However, to fully capitalize on this demand and drive further growth, we urge the government to grant long-pending industry status to the real estate sector. This will allow developers to access easier financing, lower borrowing costs, and incentives, ultimately enabling the sector to meet housing demand more effectively and contribute even more significantly to India’s economic progress.

Vivek Jalan, Partner Tax Connect Advisory Services LLP

The economic survey emphasizes on deregulation and simplification of business procedures as a compulsion rather than as an option in the current day geo-political environment. This can be done by reducing layers of operational conditions to policies to prevent abuse and making them incomprehensible and complicated. Therefore simplification of TDS/TCS in norms in Income Tax, MOOWR/IGCR Scheme in Customs and of course simplification of GST is what seems on the anvil in the budget going forward among other policy changes.

Due to geo-political conditions India’s export is expected to be tepid and India will have to press the levers on domestic consumption as well as manufacturing for growth. However, India’s manufacturing of raw materials, components, parts, etc is far from self-sufficient and hence its dependence on global supply chains create a road block. Much more push needs to be given to manufacturing raw materials, components, parts, etc. Green mobility should be the focus area.

February 1, 2025: Where sneaker culture meets vintage beats, sports brand PUMA India turned up the retro vibe at the Indian Sneaker Festival ongoing at the Backyard Sports Ground, Gurugram. Bringing back the magic of 60s music and classic terrace style, the brand spotlighted its iconic Palermo sneaker with a pop-up that felt straight out of a golden-era record store.

PUMA has pulled out all the stops to give sneakerheads an immersive experience like never before. Picture terrace culture drenched in retro beats, vintage cool with a bold and modern edge.

Inspired by the original soundtrack created for the Palermo digital Film released in 2024 featuring Ibrahim Ali Khan Pataudi and Ayesha Kanga among others, the pop-up reimagines the vibe of the 60s music record store but with a PUMA spin. Imagine a walk through rows of vinyl records, CD showcases, a record-style sneaker display, and a listening station pumping curated tracks, this aesthetic, Instagrammable pop-up is the ultimate celebration of the power of music—a timeless classic—much like the Palermo sneaker itself.

PUMA chose the 4th edition of the Indian Sneaker Festival to offer a fun, multi-sensorial experience for sneakerheads to get a first-hand feel and vibe of the iconic Palermo sneaker. In addition, the pop-up features a customization station where shoppers can accessorize their new Palermos with charms and create a memorable PUMA experience.

The Palermo sneaker, with its signature mix of bold colorways and undeniable retro charm, is perfect for those who love to blend vintage style with new-age spirit. It is all about fun, friendships, and that effortlessly cool ’60s energy. The Palermo comes in a range of vibrant colorways, from bold and electric to classic and understated, offering something for every style. Each shade is a nod to retro charm, reimagined for the modern-day sneaker lover.

What’s Happening at the Pop-Up?

· Shop the Goods: Exclusive Palermo sneakers and premium Prime Select apparel are up for grabs.

· Customisation Station: Bought some PUMA heat? Make it yours with a customization set-up only for pop-up shoppers.

· 500 Giveaways: Join the buzz for a chance to win from our 500-product giveaways, inspired by the retro record store vibe.

· Special Appearance: Actor and trendsetter Ayesha Kanga is set to make an appearance at the PUMA Palermo pop-up on February 1st, bringing her unique flair to the mix.

The Palermo is calling—are you ready to create some Instagrammable moments? Bring your crew, grab some kicks, and soak up the vibes at the Palermo pop-up, set up till Feb 2.

Manipal, 1st February 2025: The Department of Mechanical Industrial Engineering, MIT Manipal (MAHE), in collaboration with Intel India, inaugurated the Intel Unnati – Artificial Intelligence Data Centric Lab and launched the Intel Unnati Certification programs on 24th January 2025. An enthusiastic crowd of students, faculty members and University officials participated in the inaugural ceremony that was held at the Library Auditorium of MIT, Manipal.

The chief guest of the function, Mr. Girish H, National Business Manager, HPC, Artificial Intelligence & Unnati, India, elaborated on the Intel Unnati Initiative stating that the program was formulated to provide the necessary upskilling the students and faculty members need in the area of artificial intelligence and machine learning. He also stated that there is a need for the country to be technologically empowered and Intel is playing its part in the venture.

“This initiative will not only create a space for creativity to meet technology but will also help in bridging the gap between academia and industry. This program will help the students to gain valuable insights into technology advancements and will prepare them for the digital industry” said the honourable vice-chancellor of MAHE, Lt. Gen Dr. MD Venkatesh during his speech as the guest of honour for the function. He also expressed his happiness about the fact that the certification program would cater to students and faculty of all professions including health professionals.

Cmdr (Dr) Anil Rana, Director, MIT, Manipal shared that it is imperative that students and professionals from NON-IT branches also upskill themselves in AI related domain to adapt to the global change in the industrial eco-system and this certification program would provide the suitable platform in this direction.

“We have developed courses that cater to students and professionals of various engineering disciplines, health professionals, Dentists and hotel management” explained Prof. Nithesh Naik, faculty in the department and the Intel Unnati program coordinator during his presentation of the overview of the certification program. He also went on to explain the different verticals of the Intel Unnati Lab and elaborated that the annual Industrial Training program offered by the Intel Unnati provides a good platform for the students of MIT to work on real time problems while being mentored by the professionals from Intel. He advised the students of MIT to lookout for various competitions that will be hosted by Intel Unnati.

Dr. Arunachal V Chandavar, Head of the Department of Mechanical & Industrial Engineering, MIT Manipal, stated that this lab would empowered and encourage students to adopt advanced technology to shape their knowledge and skills during his welcome address.

Prof. Suhas Kowshik and Dr. Pavan Hiremath, coordinators of the Intel Unnati Program, were present at the event, who offered their expertise in supporting the launch of this transformative initiative.

In an industry where rapid advancements and fierce competition define the landscape, Shreyas Webmedia Solutions has firmly established itself as a leading player. This February, the company marks a significant milestone—celebrating three years since its inception. Over the past three years, Shreyas Webmedia Solutions has made notable strides in providing innovative digital marketing services, web development, and creative solutions to businesses across the globe.

A Vision Brought to Life

Founded with a vision to help businesses enhance their online presence, Shreyas Webmedia Solutions has grown to be a trusted partner for companies seeking professional and customized digital marketing strategies. The company’s approach combines creativity, technical expertise, and a deep understanding of the evolving digital landscape.

In just three years, the company has built a solid reputation for delivering tailored solutions to clients, ensuring they not only meet but exceed their digital goals. From SEO and social media marketing to website development and branding, Shreyas Webmedia Solutions offers a comprehensive suite of services designed to elevate brands and drive business growth.

Key Milestones and Achievements

The company’s journey has been marked by several key milestones:

Expanding Client Base: Shreyas Webmedia Solutions has successfully built a diverse portfolio of clients spanning across various industries, including retail, technology, education, healthcare, and more. Their client-centric approach and focus on results have played a significant role in fostering long-lasting relationships.

Innovative Solutions: From search engine optimization (SEO) that ensures high search rankings to mobile-responsive website designs, Shreyas Webmedia Solutions has continuously integrated the latest trends and technologies into its services. Their ability to adapt to the fast-paced nature of the digital marketing world has allowed them to stay ahead of the curve.

A Growing Team of Experts: The growth of the company can be attributed to its talented and dedicated team of professionals who bring diverse expertise to the table. Their passion for delivering exceptional service has been instrumental in Shreyas Webmedia Solutions’ success.

Awards and Recognition: The company has also earned accolades for its exceptional work, including recognition from various industry bodies. These achievements reflect the commitment and dedication of the Shreyas Webmedia Solutions team to providing top-quality service to clients.

Looking to the Future

As Shreyas Webmedia Solutions celebrates this impressive achievement, the company remains focused on continuous improvement and growth. They are committed to staying at the forefront of emerging technologies and trends to deliver cutting-edge solutions to their clients.

“We are extremely proud of what we have achieved over the past three years, but this is just the beginning. We are constantly evolving and adapting to meet the needs of our clients. The digital world is always changing, and we are excited to help businesses navigate that change and emerge stronger than ever,” said Mr. Neel Achary, CEO and the visionary behind Shreyas Webmedia Solutions.

As Shreyas Webmedia Solutions celebrates its third anniversary, it is clear that the company’s innovative approach, commitment to excellence, and focus on client satisfaction have contributed to its growth and success. With a bright future ahead, Shreyas Webmedia Solutions is poised to continue transforming digital marketing and web development for years to come.

New Delhi,: The India Honey Alliance (IHA), in collaboration with NIFTEM-K, successfully hosted the ‘Hive to Home: Vision2030 – Building a Scientific & Sustainable Honey Industry’ seminar at the India International Centre. The seminar aligns with the Hon’ble Prime Minister’s Honey Mission, to reinforce efforts to strengthen India’s honey value chain through scientific advancements and sustainable practices. Bringing together policymakers, scientists, and industry leaders, the event fostered critical discussions on quality assurance, sustainability, and global competitiveness in India’s honey industry.

The seminar was attended by key Government dignitaries including Dr. Subrata Gupta (IAS), Secretary, Ministry of Food Processing Industries (MoFPI ; Dr. H.S. Oberoi, Director, NIFTEM-K; Dr. Satyen Panda, Advisor, QA, FSSAI; Dr. Kaushik Banerjee, Director, ICAR-National Research Centre for Grapes ; Dr. Rajesh R Nair, Deputy Managing Director, NDDB CALF; Dr. Komal Chauhan, Dean Research and Outreach, Head CFRA & CEFF; Sh. Balasubramanian.K, Joint Director, Quality Assurance, FSSAI; and Dr. Ranjan Mitra, immediate past President AOAC International-India Section.

Dr. Subrata Gupta (IAS), Secretary, Ministry of Food Processing Industries (MoFPI), calling the seminar “an extremely important event with far reaching impact” emphasized the need to protect the bees & train the beekeepers scientifically to maintain authenticity of honey. Underscoring the importance of standards, he said “I urge FSSAI to work closely with NIFTEM & other institutes to come up with standards that are relevant for India.” He called upon IHA to grow in size & work towards maintaining India’s standing as a leading honey producer & exporter. He underscored the critical role of scientific advancements in testing methodologies to uphold global benchmarks and enhance the industry’s credibility. and regulatory frameworks in ensuring quality and consumer trust to maintain India’s stand as a leading producer of honey.

The opening session moderated by Mr. Deepak Jolly, Secretary General, IHA focused on making Indian honey future-ready in both global and domestic markets, addressing key aspects such as honey standards, safety, purity, and the overall status of the Indian honey industry. Distinguished speakers shared insights on strengthening standards and the role of research institutions in building a robust honey ecosystem with Mr. Narayanan Renganathan, Chairperson, IHA, providing industry perspectives on challenges and collaborative solutions. Dr. Samuel Godefroy, Former Vice Chairperson, FAO/CODEX Alimentarius, joining virtually, discussed the importance of scientific evaluation in regulatory decision-making. Speaking about the ongoing issue of HMF in honey, he called it a quality parameter and mentioned about the risk assessment study underway on HMF in honey.

The panel discussion focused on Harmonization to Ensure Quality, Safety through Standards & Testing and addressed critical challenges such as the lack of standardized testing protocols, the need for strong regulatory frameworks, and the urgency to debunk myths about honey through scientific validation. Eminent scientists and experts, shared insights on honey standardization, safety, and sustainability, while industry leaders Mansoor Ali, Vice Chairperson, IHA and Amit Gupta provided perspectives on strengthening the honey supply chain and expanding market opportunities. Mr. Ed George, Global Key Opinion Leader joined virtually from USA to present and elaborate on latest advancements in honey testing technology aimed at addressing emerging challenges.

Key recommendations emerging from the seminar focused on conducting scientific studies on Indian honey for revising standards and thresholds in certain parameters to improve quality benchmarks, regulator compliance, focusing on consumer awareness, developing advanced training systems for beekeepers to enhance productivity, sustainability and innovation in beekeeping practices. Experts collectively stressed that maintaining the purity and authenticity of honey requires a collaborative effort from policymakers, researchers, and industry players.

Summarizing the discussion, Mr. Narayanan Renganathan, Chairperson, IHA, emphasized that ensuring trust in honey quality is a shared responsibility across the entire ecosystem. He reiterated that sustained collaboration, research-driven policies, and consumer awareness are essential for establishing India as a benchmark for high-quality, sustainable honey production.

Hyderabad, February 1, 2025: Amrita Vishwa Vidyapeetham, Kochi Campus, is set to host a three-day international conference titled “Synergizing Eco Interventions for Achieving SDGs” from March 5 to 7, 2025, at the serene Kochi Brahmasthanam campus. Organized by the Departments of Commerce and Management and Visual Media and Communication, the event aims to explore innovative pathways toward achieving Sustainable Development Goals (SDGs) through eco-friendly interventions and collaborative approaches.

Abstract submissions has started from January and will remain open till on February 10, 2025.

The conference will feature dynamic panel discussions, interactive workshops, and hands-on training sessions, covering themes such as climate action, biodiversity conservation, green technology innovations, and circular economy. Renowned experts, including Dr. Harsha Bhargavi (Ministry of Culture, Government of India), Dr. Erik Bean (Indiana Tech University, USA), and Dr. Nirmalya Mukherjee (Centre for Public Health Research), will lead discussions on critical topics like green commerce, media’s role in SDGs, and AI for sustainability.

Participants will get an opportunity to engage in creative competitions, including poster design, short films, and photography, celebrating innovation in environmental advocacy. Workshops on eco-product creation, AI tools for sustainability, and organic farming further enriched the hands-on learning experience.

The evening of 27th Vasantotsav 2025 will witness an enthralling performance by Kathak danseuse Shinjini Kulkarni on February 4, 2025 at Kamani Auditorium, New Delhi, where she will enlighten the stage with her performance Kasturi- The Eternal Search.

Inspired by the allegory of Kasturi Mrig, the musk deer, that roams the vast forests in search of an intoxicating fragrance that emanates from within, her performance delves into the exploration of the eternal search, the illusion of seeking outside what already resides within.

Event Details

Name of the event: Kathak virtuoso Shinjini Kulkarni to Illuminate the Stage with a pulsating recital Kasturi – The Eternal Search at 27th Vasantotsav 2025

Artist Name: Shinjini kulkarni
Date: Tuesday, February 4, 2025
Time: 6:00 PM
Venue: Kamani Auditorium, Mandi House, New Delhi

The Artist dedication and passion has always garnered the audience’s affection and blessings with her powerful performances that are a unique amalgamation of creative approaches and skilled style. As the part of Vasantotsav 2025, an annual prastuti of Kalashram by Pt. Birju Maharaj ji, Kulkarni’s solo recital will not just exhibit the finesse of Kathak but also invite the audience to mirror the journey of self-discovery, revealing that the fragrance we seek is not in the world around us, but in the essence of our own being.

Delhi, February 1, 2025 – Tajurba Business Network, led by founders Suresh Mansharamani and Uma Mansharamani, successfully hosted a transformative SME IPO workshop at the Crowne Plaza,Okhla, New Delhi. The event aimed to educate India’s SME owners on the challenges and opportunities associated with listing on the SME Stock Exchange.

The workshop, attended by over 50+ SME owners, featured prominent industry experts, including Mr. Suresh Mansharamani, renowned Merchant Banker Mr. Vipin Aggarwal (MD, Narnolia Financial Services Ltd.), and Mr. Manprit Singh Chadha (Founder, Satkartar Shopping Ltd., a NSE-listed company).

The event began with an insightful keynote by Mr. Suresh Mansharamani, who shed light on common challenges faced by SMEs, eligibility criteria for IPOs, and essential SEBI regulations. His presentation served as a valuable guide for entrepreneurs exploring IPOs as a growth strategy.

Speaking about the event’s purpose, Mr Mansharamani, stated: “It is a privilege to educate and empower so many SME owners. SME IPOs have the potential to transform businesses and drive entrepreneurial success in India. We are committed to continuing this journey of education and empowerment through similar workshops in the future.”

Mr. Vipin Aggarwal, an eminent Merchant Banker, delved into the comprehensive criteria and regulations surrounding SME IPOs. His session provided attendees with the opportunity to ask questions and gain clarity on key aspects of the IPO process. Addressing the audience, Mr. Aggarwal said: “India’s economic growth is closely tied to the strength of its SMEs. By empowering SME owners with knowledge about SME exchanges and SEBI regulations, we are paving the way for a more robust entrepreneurial ecosystem.”

Adding a practical perspective, Mr. Manprit Singh Chadha shared his journey of successfully leading an IPO for Satkartar Shopping Ltd. His session covered the opportunities and challenges faced during the listing process, along with actionable strategies for success. Reflecting on his experience, he remarked: “Listing a company is a rigorous yet rewarding journey. The compliance requirements may seem daunting, but the long-term benefits for growth and credibility are unparalleled. I am thrilled to see SME owners recognizing the value of SME exchanges and the potential they hold for their businesses.”

The event underscored Tajurba Business Network’s unwavering commitment to fostering business growth and creating a supportive ecosystem for entrepreneurs. By addressing critical topics like SME IPOs, the workshop equipped attendees with the knowledge and resources needed to achieve sustainable success.

Chennai, January 31st, 2025: The Board of Directors of CIFCL today approved the unaudited financial results for the quarter and nine months ended 31st December 2024.

•  Aggregate disbursements in Q3 FY 25 were at ₹ 25,806 Cr as against ₹ 22,383 Cr in Q3 FY 24 registering a growth of 15%. Disbursements in YTD Dec 2024 were at ₹ 74,452 Cr as against ₹ 63,940 Cr registering a growth of 16% on a Y-o-Y basis.
•  Vehicle Finance (VF) disbursements were at ₹ 14,390 Cr in Q3 FY 25 as against ₹ 12,354 Cr in Q3 FY24, registering a growth of 16%. Disbursements in YTD Dec 2024, were at ₹ 39,492 Cr as against ₹ 35,385 Cr in the previous year, registering a growth of 12% Y-o-Y.
•  Loan Against Property (LAP) business disbursed ₹ 4,205 Cr in Q3 FY 25, as against ₹ 3,409 Cr in Q3 FY24, registering a growth rate of 23%.Disbursements in YTD Dec 2024, were at ₹ 12,374 Cr as against ₹ 9,281 Cr in the previous year, registering a growth of 33% Y-o-Y.
•  Home Loanbusiness disbursed ₹ 1,820 Cr in Q3 FY 25, as against ₹ 1,587 Cr in Q3 FY24registering a growth of 15%.The Disbursements in YTD Dec 2024 were at₹ 5,421 Cr as against ₹ 4,615 Cr in the previous year, registering a growth of 17% Y-o-Y.
•  Small and Medium Enterprises Loan (SME) business disbursed ₹ 1,911 Cr in Q3 FY 25, as against ₹ 1,981 Cr in Q3 FY24.The disbursements in YTD Dec 2024 were at ₹ 6,029 Cr, registering 1% growth over ₹ 5,971 Cr in YTD Dec 2023.
•  Consumer and Small Enterprise Loans (CSEL) disbursed ₹ 3,149 Cr in Q3 FY 25,as against ₹ 2,773 Cr in Q3 FY24registering a growth of 14%. The disbursements in YTD Dec 2024 were at ₹ 10,224 Cr, registering 28% growth over ₹ 7,980 Cr in YTD Dec 2023.
•  Secured Business and Personal Loan (SBPL) disbursed ₹ 331 Cr in Q3 FY 25,as against ₹ 280 Cr in Q3 FY24registering a growth of 18%. The disbursements in YTD Dec 2024 were at ₹ 911 Cr, registering 29% growth over ₹ 708 Cr in YTD Dec 2023.
•  Assets under management as of 31st December 2024, stood at ₹ 1,89,141 Cr as compared to₹ 1,41,143 Cr as of 31st December 2023, clocking a growth of 34% Y-O-Y.
•  PBT Growth in Q3 was at 27% and for YTD Dec 2024 was at 28%.
•  PBT-ROA for Q3 FY 25 was at 3.2% and for the YTD Dec 2024 was at 3.1%.
•  ROE for Q3 FY 25 was at 19.6%. and for the YTD Dec 2024 was at 18.9%.
•  The Company continues to hold a strong liquidity position with ₹ 15159 Cr as cash balance as of the end of Dec’2024 (including Rs 3421 cr invested in Gsec& SDL/ Rs 1694 cr invested TBill& Rs 758 crs invested in Strips shown under investments), with a total liquidity position of ₹ 15677 Cr (including undrawn sanctioned lines). The ALM is comfortable with no negative cumulative mismatches across all-time buckets.
• Consolidated Profit Before Tax (PBT) for Q3 FY 25 was at ₹ 1,465 Cr as against ₹ 1,157 Cr in Q3 FY 24registering a growth of 27% and for YTD Dec 2024 was at ₹ 4,043 Cr as against ₹ 3,177 Cr in YTD Dec 2023registering a growth of 27%.

Asset Quality:

Stage 3 levels representing 90+ dues increasedto 2.91% as ofDecember 24 from 2.83% as of the endof September 24. GNPA % as per RBI norms increased to 4.00% as ofDecember 24 as against 3.78% onSeptember 24. NNPA as per RBI norms has also increased to 2.66% as ofDecember 24 against 2.48% onSeptember 24. NNPA is below the threshold of 6% prescribed by RBI as the threshold for PCA.

The details of the stagewise assets and provisions are given in the Annexure.

Capital Adequacy:

The Capital Adequacy Ratio (CAR) of the company as of 31st December 2024, was at 19.76% as against the regulatory requirement of 15%. Tier-I Capital was at 14.92% (Common Equity Tier-I Capital at 14.17% as against a regulatory minimum of 9%) and Tier-II Capital was at 4.84%.

Interim Dividend
The Board of Directors of the Company approved the payment of Interim dividend of 65% being ₹ 1.30 per share on the equity shares of the Company, for the year ending March 31, 2025.